Arman Financial Services Limited announced that Mr. Mridul Arora, Nominee Director of the company has tendered his resignation from the position of the Nominee Director of the company with effect from the conclusion of the board meeting dated February 3, 2024, of the company. The reason for resignation is withdrawal of nomination by Elevation Capital V Limited as their shareholding falls below 20% in the company, Elevation currently does not require a board nominee as a minority financial investor in the company.